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alpha-emitters for next-generation precision cancer treatment, and Oncoinvent
ASA, a clinical-stage radiopharmaceutical company, have entered into a strategic
agreement for Thorium-228 radioisotopes to supply the Phase 3 clinical program
for Radspherin®, Oncoinvent’s lead product candidate.
Under the terms of the agreement, Thor Medical will supply Thorium-228 from
AlphaOne, the company’s first commercial-scale manufacturing plant currently
under construction. Thorium-228 from Thor Medical will serve as the starting
material for the manufacture of Radium-224, the key radioisotope in Radspherin®,
directly targeting cancers in body cavities. Oncoinvent is currently conducting
a randomised Phase 2 trial evaluating Radspherin® for peritoneal carcinomatosis
from ovarian cancer.
“We are pleased to have secured additional sources for the supply of Thorium-228
as we advance the planning of our Phase 3 program with Radspherin® for the
treatment of peritoneal metastases originating from ovarian cancer. The
availability of Thorium-228 within Norway’s expanding radiopharmaceutical
ecosystem is of great strategic value and provides the company with significant
flexibility,” says Øystein Soug, CEO of Oncoinvent.
“This agreement reflects the growing demand for sustainable and scalable sources
of alpha-emitters,” says Jasper C. Kurth, CEO of Thor Medical. “We are seeing
the emergence of a vibrant radiopharmaceutical cluster in the greater Oslo
region, where world-class research, biotech innovation, and industrial
production are coming together. Thor Medical is proud to be part of this
ecosystem and to support the development of promising cancer treatments close to
home.”
With both companies headquartered in Oslo, this agreement illustrates the
strength of Norway’s growing network of radiopharmaceutical companies and
targeted alpha therapies. This geographic concentration of scientific, clinical,
and industrial capabilities is fostering a highly collaborative environment,
positioning Norway as an emerging center for innovation and scalable production
in the field of targeted alpha therapies.
CONTACT
Brede Ellingsæter, CFO & COO Thor Medical, +47 472 38 440,
brede.ellingseter@thormedical.com,
Tore Kvam, Chief Financial Officer Oncoinvent, kvam@oncoinvent.com
ABOUT THOR MEDICAL ASA
Thor Medical is an emerging supplier of alpha particle emitters produced from
naturally occurring thorium. Its proprietary production process requires no
irradiation or use of nuclear reactors, and provides reliable, environmentally
friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical
industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo
Stock Exchange under the ticker symbol ‘TRMED’.
ABOUT ONCOINVENT ASA
Oncoinvent is a clinical-stage biotechnology company developing novel
radiopharmaceutical therapies against cancer. The lead product candidate,
Radspherin®, uses the alpha-emitting radionuclide radium-224, directly targeting
micro-metastases post-surgery, harnessing the benefits of modern
radiopharmaceuticals without the complexities of biological targeting.
Oncoinvent is investigating the safety and efficacy of Radspherin® in a clinical
development program in two indications. In addition to the finalized phase 1/2a
trial in colorectal cancer, one Phase 1 trial and one randomized Phase 2 trial,
both in ovarian cancer, are ongoing in the US, UK and Europe. Preliminary
clinical efficacy data are highly encouraging, and no serious toxicity or safety
concerns have been reported to date. The experienced Oncoinvent team runs a
state-of-the-art manufacturing facility to produce drug products for clinical
trials in Nydalen, Oslo. Oncoinvent is listed on the Euronext Growth Oslo.
IMPORTANT INFORMATION
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Brede Ellingsæter, CFO & COO, Thor
Medical ASA, at the time and date stated above in this announcement. This
release contains forward -looking information and statements relating to the
business, performance, and matters that may impact the results of Thor Medical.
Forward-looking statements are statements that are not historical facts and may
be identified by words such as “aims,” “anticipates,” “believes,” “estimates,”
“expects,” “foresees,” “intends,” “plans,” “predicts,” “projects,” “targets,”
“potential,” and similar expressions. Such forward-looking statements are based
on current expectations, estimates, and projections, reflect current views
concerning future events, and are subject to risks, uncertainties, and
assumptions, and may be subject to change without notice. Forward-looking
statements are not guarantees of any future performance, and risks,
uncertainties, and other important factors could cause the actual business,
performance, results, or the industry and markets in which Thor Medical operates
to differ materially from the statements expressed or implied in this release by
such forward-looking statements. No representation is made that any of these
forward-looking statements or forecasts will come to pass or that any forecasted
performance, capacities, or results will be achieved, and you are cautioned not
to place any undue reliance on any forward-looking statements. This release is
for information purposes only and is not to be relied upon in substitution for
the exercise of independent judgment. It is not intended as investment advice
and under no circumstances is it to be used or considered as an offer to sell,
or a solicitation of an offer to buy any securities or a recommendation to buy
or sell any securities of the Company.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848634/18635032/6389/Download%20announce
ment%20as%20PDF.pdf
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